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A Sample Computer Consulting Business Plan Template

Are you about starting a computer consulting company? If YES, here is a complete sample computer consulting business plan template & feasibility report you can use for FREE.

Okay, so we have considered all the requirements for starting a computer consulting business. We also took it further by analyzing and drafting a sample computer consulting marketing plan template backed up by actionable guerrilla marketing ideas for computer consulting businesses. So let’s proceed to the business planning section.

Why Start a Computer Consulting Business?

Apart from electricity, the computer and the internet is yet another powerful and far reaching invention that has indeed transformed our world for good with unlimited potentials. There is hardly any country of the world or any serious and standard organization that doesn’t have computer in the office. The truth is that the advent of computers has indeed opened floodgate of business opportunities for entrepreneur with different investment capacity.

If you are skilled in ICT cum computers, it means you can successfully start a business in the ICT industry. As a matter of fact, if you are serious in starting a computer consulting business or any computer related business and you don’t have the skills or certifications, you can indeed acquire these skills from accredited ICT training centers either online of offline.

As an ICT consulting firm, your core responsibility is to improve your client’s business by effecting changes in response to your analysis; you should be able to change the fortune of the business within an agreed time – line. Corporations are willing to pay expensive fees as long as they are going to get results.

No business person will be willing to pay you for an IT consulting service if you don’t have a track record that shows that you know what you are doing. It is one thing to convince a client to patronize your IT consulting services and it another thing for you to deliver solutions as agreed.

Although there are competitions in the ICT industry, if you are determined to start a business in the industry, you can still win a fair share of the available market within your area of specialization or the locations you intend launching and marketing the business.

So, if you have decided to start your own computer consulting business, then you should ensure that you carry out thorough feasibility studies and also market survey. This will enable you properly locate the business and then hit the ground running. Business plan is yet another very important business document that you should not take for granted in the bid to launching your own business.

Below is a sample computer consulting business plan template that can help you to successfully write your own with little or no difficulty;

A Sample Computer Consulting Business Plan Template

  • Industry Overview

When we talk about consulting services, we are perhaps talking about getting practical advice from experts. The consulting industry is indeed a broad industry that covers a wide range of services such as management consulting, strategy consulting, ICT consulting, marketing consulting, human resource consulting, training consulting, tax consulting, and any other business activities that involves giving advice and expertise et al.

In essence, consulting firms are hired to proffer solutions to the challenges that organizations faces. Organizations don’t just hire consultants for the sake of hiring consultants, but they do so simply because they expect them to help tackle their business challenges and deliver solutions as required.

As a consulting firm, if you are good at developing coaching skills, process analysis, technology implementation, strategy development, or operational improvement services, then with little push, you will have more jobs than you can handle.

The ICT Consulting industry comprises of businesses that offers ICT cum computer related consulting services such as writing, testing and supporting custom software; planning and designing integrated hardware, software and communication infrastructure; and on-site management of computer systems and data processing facilities. Players in this industry may also go the extra mile to offer services such as packaging software and off-site data processing and hosting services for their clients based on demand.

The ICT Consulting industry is a thriving sector of the economy of the United States of America and they generates a whooping sum of well over $383 billion annually from more than 459,808 registered and licensed ICT consulting firms scattered all around the United States of America. The industry is responsible for the employment of well over 2,143,418 people.

Experts project the ICT Consulting industry to grow at a 2.2 percent annual rate between 2011 and 2016. It is important to state that IBM is the market leader in the ICT consulting industry in the United States of America – they have the largest market share own by an establishment in the industry.

In the United States of America, the distribution of ICT consulting cum computer consulting firms generally reflects its population distribution with increased consulting density near technological centers and key demand markets, including financial service companies, large corporations and government clients. Most ICT consulting companies are located in the Southeast, closely followed by the Mid-Atlantic and the West.

The Southeast contains the largest number of ICT consulting firms, with 23.7 percent of industry establishments. Many ICT consulting firms are in this region because 25.6 percent of the US population resides in this region. The State of Virginia accounts for the largest proportion of industry establishments in this region with 6.5 percent in 2015.

The ICT consulting industry is a high-paying industry especially if you have been able to cut your teeth in the industry. It gives you the opportunity to work with high and low profile clients and if you are able to proffer ICT solutions to business challenges you will be greatly rewarded. In most cases, if you are lucky to be among the few experts in the industry, you will have the privilege of choosing who to work for and the amount you want to charge.

Generally, ICT consultants are skilled at conducting research and of course analyzing the results they got from the research. ICT consultants go as far as gathering any related data that will help them come up with workable solutions for the organization they are working for; they ensure that they identify behavioral patterns, production bottle – necks, the market trends and of course customers preference. With that and other factors, they will be able to create standard operating processes and systems that can help the organization achieve its goals and objectives.

Lastly, one good thing about the ICT consulting industry is that there are readily available markets for their services simply because organizations naturally would want to improve their performance annually; corporations always seem to want more success. So if you are well positioned and you know how to deliver results, you will always smile to the bank on a regular basis.

Computer Consulting Business Plan – Executive Summary

3 Crowns® ICT Consulting, LLP is a licensed international ICT consulting firm that will be located in Columbia – South Carolina. We have been able to secure a long term lease agreement for a standard office facility in a busy business district in the heart of the city.

Our services will cover ICT areas such as; computer application design and development, computer systems design, development, and integration, providing information technology expertise for consumers, writing, modifying, testing and supporting software to meet the specific needs of our client, planning, design and integration of computer or network systems, on-site management and ICT functions, ICT technical support services, ICT infrastructure and network design services, ICT technical consulting services and other related ICT consulting and advisory services .

We are aware that businesses these days require diverse and sophisticated approaches. This is why we will position our ICT cum computer consulting firm to offer a wide range of ICT consulting services as requested by our clients.

3 Crowns® ICT Consulting, LLP is a client-focused and result driven ICT cum computer consulting firm that provides broad-based experience at an affordable fee that won’t in any way put a hole in the pocket of our clients.  We will offer a complete range of ICT consulting services to our local, state, national, and multi-national clients and we will ensure that we work hard to provide the required services and business solutions needed by our clients to accomplish their business goals and objectives.

At 3 Crowns® ICT Consulting, LLP our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

3 Crowns® ICT Consulting, LLP will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

3 Crowns® ICT Consulting, LLP is founded by Donald Thomas and his friend and business partner Hilary Hankins. The organization will be managed by both of them since they have combined experience and qualifications in a diverse range in the ICT consulting industry. Donald and Hilary graduated from MIT with degrees in Computer Technology and Business Management.

  • Our Products and Services Offering

3 Crowns® ICT Consulting, LLP is going to offer varieties of services within the scope of the ICT consulting industry in the United States of America. Our intention of starting our ICT consulting firm is to make profits from the industry and we will do all that is permitted by the law in the United States of America to achieve our aim and ambition.

Our business offering are listed below;

  • Computer systems design, development, and integration
  • Computer application design and development
  • Providing information technology expertise for consumers
  • Writing, modifying, testing and supporting software to meet the specific needs of one client
  • Planning, design and integration of computer or network systems
  • On-site management and ICT functions
  • ICT technical support services
  • ICT infrastructure and network design services
  • ICT technical consulting services
  • Other related ICT consulting and advisory services

Our Vision Statement

Our vision is to build a world class ICT consulting company that can favorably compete with leaders in the ICT industry.

  • Our Mission Statement

Our mission is to provide professional and trusted ICT consulting services that will assist businesses and non-profit organizations in operating sustainably. We will provide workable ICT cum computer consulting business solutions in combination with our own business backgrounds, and deliver valuable services in a timely and cost-effective way.

  • Our Business Structure

3 Crowns® ICT Consulting, LLP is in business to become the leading ICT cum computer consulting companies in the whole of Columbia – North Carolina and we are fully aware that it will take the right facility, management and organization – structure to achieve our goal.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers). As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more.

Our business will not be built only for the purpose of giving our clients value for their money, but also we will ensure that we make our work environment highly conducive for all our employees. We will provide them with facilities that will help them stay motivated and deliver on their various tasks and goals et al.

In view of that, we have made provisions for the following positions to be occupied by highly qualified and experienced staff;

  • Chief Executive Officer / Lead Consultant
  • ICT Consultants
  • Admin and Human Resources Manager
  • Accountant / Cashier
  • Marketing and Sales Officer
  • Customer Care Executive / Front Desk Officer

Roles and Responsibilities

Chief Executive Office / Lead Consultant:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization
  • Carries out staff induction for new team members

ICT Consultant

  • Responsible for providing information technology expertise for consumers
  • Responsible for writing, modifying, testing and supporting software to meet the specific needs of one client
  • Responsible for planning, design and integration of computer or network systems
  • Handle on-site management and ICT functions
  • Responsible for computer systems design, development, and integration
  • Handles computer application design and development
  • Handles all ICT technical support services
  • Handles all ICT infrastructure and network design services
  • Handles ICT technical consulting services
  • Handle other related ICT consulting and advisory services

Admin and HR Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Designs job descriptions with KPI to drive performance management for clients
  • Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
  • Defines job positions for recruitment and managing interviewing process
  • Carries out staff induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
  • Oversees the smooth running of the daily office activities.

Marketing and Sales Officer (2)

  • Identifies, prioritizes, and reaches out to new clients, and business opportunities et al
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of projects.
  • Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
  • Responsible for handling business research, market surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding increase sales
  • Documents all customer contact and information
  • Represents the organization in strategic meetings
  • Helps to increase sales and growth for the organization.

Accountant / Cashier:

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for the organization
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for the organization
  • Serves as internal auditor for the organization.

Client Service Executive

  • Welcomes clients by greeting them in person or on the telephone; answering or directing inquiries.
  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the organization’s products and services
  • Manages administrative duties such as membership registrations and other related tasks assigned by the management in an effective and timely manner
  • Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
  • Distributes mails in the organization
  • Handles any other duties as assigned the line manager

Computer Consulting Business Plan – SWOT Analysis

3 Crowns® ICT Consulting, LLP is in business to provide ICT cum computer consulting services to businesses within and outside the United States and at the same time to make profits. We are aware that there are competitions in the ICT industry which is why we took out time to conduct an effective SWOT Analysis before investing our hard earned money into the business.

We know that if we get things right before starting our computer consulting business, we will not have to struggle before attracting loyal clients and building our clientele base to a level where we can easily breakeven in record time. We hired the services a HR and Business consultant with bias in business structuring to help us conduct SWOT analysis for our company and he did a pretty good job for us.

Here is a preview of the result we got from the SWOT analysis that was conducted on behalf of 3 Crowns® ICT Consulting, LLP;

  • Strength:

Our core strength lies in the power of our team; our workforce. We have a team of creative, result driven and highly proficient ICT experts, a team with excellent qualifications and experience various niche areas in the ICT Consulting industry and other related industry. Aside from the synergy that exists in our carefully selected ICT experts, our services will be measurable, result driven and guided by international best practices in the industry.

  • Weakness:

As a new ICT cum computer consulting firm in Columbia – North Carolina, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated and highly competitive ICT Consulting industry; that is perhaps our major weakness.

Another weakness is that we may not have the required cash to pump into promoting our business especially via main stream media (TV, Radio and Newspapers et al) the way we would want to.

  • Opportunities:

The opportunities available in the ICT Consulting industry are massive considering the number of corporate organizations and non – profits organizations that cannot successfully run their businesses without the professional assistance of ICT firms. As a standard and world class ICT firm, we are ready to take advantage of any opportunity that is available in the industry.

  • Threat:

Some of the threats that we are likely going to face as an ICT consulting firm operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing / spending power. There is hardly anything we could do as regards these threats other than to be optimistic that things will continue to work for our good.

Computer Consulting Business Plan – MARKET ANALYSIS

  • Market Trends

Quite a number of distinct trends have emerged in recent time in the ICT consulting industry which is why ICT consulting firms are positioning their organizations to survive the peaks and troughs of an ailing economy. As a matter of fact, most of these trends aid ICT consulting firms and organizations to become more creative, competitive, efficient, and productive in a global market.

Some other trends in the ICT consulting industry could be attributed to changing demographics, attitudes and work styles (a situation where most of the operating processes are computerized.).

No doubt, as the cost of ICT consulting services continues to increase and as corporate spending falls, new ICT consulting delivery methods will continue to emerge and gain momentum going forward. In addition, the market for ICT consulting services has shifted from a sellers’ market to a buyers’ market. A market where ICT consultants provides software and hardware solutions that will make it easier for their clients to run their businesses.

Lastly, it is now becoming trendy in the ICT consulting industry for smaller ICT consulting firms to merge with bigger ICT consulting firms and for bigger ICT consulting firms to acquire smaller ICT consulting firms; mergers and acquisitions. Many ICT consulting firms all over the United States are coming to the conclusion that the bigger the better for them.

  • Our Target Market

Although 3 Crowns® ICT Consulting, LLP will initially serve small to medium sized business, from new ventures to well established businesses, but that does not in any way stop us from growing to be able to compete with the leading ICT consulting firms in the United States. We hope to someday merge or acquire other smaller ICT consulting firms and expand our ICT consulting services beyond the shores of the United States of America.

As a full service business – ICT consulting firm, 3 Crowns® ICT Consulting, LLP have a variety of practice areas to help startups grow. While we work with a variety of organizations and industries, 3 Crowns® ICT Consulting, LLP will also specialize in working with startups, real estate investors, and contractors, manufacturers and distributors, banks, lending and financial institutions.

Our target market cuts across people of different class and people from all walks of life, local and international organizations as well. We are coming into the industry with a business concept that will enable us work with the highly placed people and companies in the country and at the same with the lowly placed people and smaller businesses.

In other words, our target market is the whole of the United States of America and subsequently other parts of the world. Below is a list of the people and organizations that we have specifically design our ICT consulting services for;

  • Banks, Insurance Companies and other related Financial Institutions
  • Businesses and Entrepreneurs
  • Blue Chips Companies
  • Corporate Organizations
  • Manufacturers and Distributors
  • Real Estate Owners, Developers, and Contractors
  • Research and Development Companies
  • The Government (Public Sector)
  • Schools (High Schools, Colleges and Universities)
  • Hotels
  • Sport Organizations
  • Entrepreneurs and Start – Ups

Our Competitive Advantage

Surviving in the business world as an ICT consulting firm requires more than, your expertise, knowing how to properly manage your business but also how to network with key people that matters; decision makers that can decide who will get a contract or a business deal.

We are quite aware that to be highly competitive in the ICT Consulting industry means that you are not only expected to be able to deliver consistent and excellent services, but you must be result driven and able to meet set targets. No one would want to continue to hire your services if they can’t get tangible results.

Our competitive advantage lies in the power of our team; our workforce. We have a team of creative, result driven and highly proficient ICT experts, a team with excellent qualifications and experience various niche areas in the ICT Consulting industry and other related industry. Aside from the synergy that exists in our carefully selected ICT experts, our services will be measurable, result driven and guided by international best practices in the industry.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups ICT consulting firms in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

Computer Consulting Business Plan – SALES AND MARKETING STRATEGY

We aware of the fact that there are stiffer competitions amongst ICT consulting firms in the United States of America, hence we have been able to hire some of the best business developer cum marketers to handle our sales and marketing.

Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization. We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard ICT consulting business that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).

Our goal is to grow our ICT consulting firm to become one of the top 20 ICT consulting firms in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the United States but in the world stage as well.

3 Crowns® ICT Consulting, LLP is set to make use of the following marketing and sales strategies to attract clients;

  • Introduce our business by sending introductory letters alongside our brochure to organizations and key stake holders in Columbia – South Carolina and other parts of the United States
  • Promptness in bidding for ICT consulting contracts from the government and other cooperate organizations
  • Advertise our business in relevant business magazines, newspapers, TV stations, and radio station.
  • List our business on yellow pages ads (local directories)
  • Attend relevant international and local expos, seminars, and business fairs et al
  • Create different packages for different category of clients in order to work with their budgets and still deliver quality ICT consulting services to them
  • Leverage on the internet to promote our business
  • Engage direct marketing approach
  • Encourage word of mouth marketing from loyal and satisfied clients

Sources of Income

3 Crowns® ICT Consulting, LLP is established with the aim of maximizing profits in the ICT Consulting industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis and sign retainer – ship with most of our clients.

3 Crowns® ICT Consulting, LLP will generate income by offering the following ICT consulting services to corporate organizations and non – profits organization;

  • Computer systems design, development, and integration
  • Computer application design and development
  • Providing information technology expertise for consumers
  • Writing, modifying, testing and supporting software to meet the specific needs of one client
  • Planning, design and integration of computer or network systems
  • On-site management and ICT functions
  • ICT technical support services
  • ICT infrastructure and network design services
  • ICT technical consulting services
  • Other related ICT consulting and advisory services

Sales Forecast

One thing is certain, there would always be corporate organizations, government agencies, non – profits and individuals who would need the services of ICT consulting firms to help them improve their business system and processes as it relates to their computers, server and PBAX et al.

We are well positioned to take on the available market in the computer cum ICT Consulting industry and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our computer cum ICT consulting firm to enviable heights.

We have been able to critically examine the computer cum ICT consulting market space and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Columbia – South Carolina.

Below are the sales projections for 3 Crowns® ICT Consulting, LLP, it is based on the location of our business and of course the wide range of our computer cum ICT consulting services and target market;

  • First Fiscal Year-: $240,000
  • Second Fiscal Year-: $500,000
  • Third Fiscal Year-: $750,000

N.B: This projection is done based on what is obtainable in the computer cum ICT consulting industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same ICT consulting services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

  • Our Pricing Strategy

Hourly billing for ICT consulting services and other consulting services is a long – time tradition in the industry. However, for some types of ICT consultancy services, flat fees make more sense because they allow clients to better predict consultancy costs.  As a result of this, 3 Crowns® ICT Consulting, LLP will charge our clients a flat fee for many basic services such as ICT consulting and advisory service et al.

At 3 Crowns® ICT Consulting, LLP we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance.  In addition, we will also offer special discounted rates to start – ups, nonprofits, cooperatives, and small social enterprises.

We are aware that there are some clients that would need regular access to computer cum ICT consultancy and advisory services and assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.

So also, there are some one – off jobs or government contracts which are always lucrative, we will ensure that we abide by the pricing model that is expected from contractors or organizations that bid for such contracts.

  • Payment Options

The payment policy adopted by 3 Crowns® ICT Consulting, LLP is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that 3 Crowns® ICT Consulting, LLP will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via credit cards / Point of Sale Machines (POS Machines)
  • Payment via online bank transfer
  • Payment via check
  • Payment via mobile money transfer
  • Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our services.

Computer Consulting Business Plan – Publicity and Advertising Strategy

We have been able to work with our in house brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to become the number one choice for both corporate clients and individual clients in the whole of the United States and beyond which is why we have made provisions for effective publicity and advertisement of our ICT consulting firm.

Below are the platforms we intend to leverage on to promote and advertise3 Crowns® ICT Consulting, LLP;

  • Place adverts on both print (newspapers and magazines) and electronic media platforms
  • Sponsor relevant community based events / programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, YouTube, Google + et al to promote our services
  • Install our Bill Boards on strategic locations all around Columbia – South Carolina
  • Engage in road show from time to time in targeted neighborhoods
  • Distribute our fliers and handbills in target areas
  • Contact corporate organizations, non – profits and government agencies by calling them up and informing them of 3 Crowns® ICT Consulting, LLP and the services we offer
  • List our ICT consulting firm in local directories / yellow pages
  • Advertise our ICT consulting firm in our official website and employ strategies that will help us pull traffic to the site.
  • Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our company logo et al.

Computer Consulting Business Plan – Financial Projections and Costing

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.

The materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting an ICT consulting firm; it might differ in other countries due to the value of their money.

The truth us that starting an ICT consulting firm can be cost effective; this is so because on the average, you are not expected to acquire expensive machines and equipment. Basically what you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, the amount needed to furniture and equip the office, the amount needed to pay bills, promote the business and obtain the appropriate business license and certifications.

Basically, this is the area we are looking towards spending our start – up capital on;

  • The Total Fee for incorporating the Business in the United States – $750.
  • Legal expenses for obtaining licenses and permits as well as relevant software applications – $5,000
  • Marketing promotion expenses for the grand opening of the business in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
  • The amount needed to acquire a suitable Office facility in a business district 6 months (Re – Construction of the facility inclusive) – $120,000.
  • The Cost for equipping the office (computers, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $2,000
  • The Cost of Launching your official Website – $600
  • Budget for paying at least two employees for 3 months and utility bills – $30,000
  • Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
  • Miscellaneous – $1,000

Going by the report from the research and feasibility studies conducted, we will need about $250,000 to set up a medium scale but standard ICT consulting firm in the United States of America.

Generating Funds / Startup Capital for3 Crowns® ICT Consulting, LLP

3 Crowns® ICT Consulting, LLP is going to start as a partnership business that will be owned by Donald Thomas and his friend and business partner Hilary Hankins. They will be the sole financial of the firm, but may likely welcome partners later which is why they have decided to restrict the sourcing of his start – up capital to 3 major sources.

These are the areas we intend generating our start – up capital;

  • Generate part of the start – up capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from my Bank

N.B: We have been able to generate about $100,000 (Personal savings $80,000 and soft loan from family members $20,000) and we are at the final stages of obtaining a loan facility of $150,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

COMPUTER CONSULTING BUSINESS GROWTH: Sustainability and Expansion Strategy

The future of any business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting v is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer our ICT consulting services and other related ICT advisory and consulting services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

3 Crowns® ICT Consulting, LLP will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Incorporation: Completed
  • Opening of Corporate Bank Accounts various banks in the United States: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of All form of Insurance and software apps for the Business: Completed
  • Securing and renovating a standard office facility: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating part of the start – up capital from the founder: Completed
  • Applications for Loan from our Bankers: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the Needed furniture, office equipment, electronic appliances and facility facelift: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business (Business PR): In Progress
  • Health and Safety and Fire Safety Arrangement: In Progress
  • Establishing business relationship with key players in the industry: In Progress
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